Li Auto (LI) Down After Slashing Q3 Vehicle Deliveries Forecast

Li Auto (NASDAQ: LI) is down over 2% in pre-open Monday after cutting its vehicle deliveries guidance for the third quarter. Li slashed the forecast to 25,500 EV units, which is still ahead of the Bloomberg consensus of 24,641 units, but lower than the prior range of 27,000 to 29,000.

Li said that the lowered Q3 delivery outlook reflects continued supply chain constraints.

“The revision is a direct consequence of the supply chain constraint, while the underlying demand for the Company’s vehicles remains robust. The Company will continue to closely collaborate with its supply chain partners to resolve the bottleneck and accelerate production,” the company said in a statement.

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